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Market review, last Friday, Shanghai aluminum weak sorting, Shanghai aluminum 1905 contract intraday trading at 13715-13785 yuan / ton, closed at 13755 yuan / ton, down 0.
29%
daily.
In the external market, as of 15:35, the 3-month Lun aluminum was reported at $1907.
00 / ton, up 0.
18%
on the day.
In terms of industry, Norsk Hydro, one of the world's largest aluminum producers, said that a key plant was operating only 50 percent of its capacity
after the company suffered a cyberattack this week.
In terms of the market, aluminum futures showed wide volatility before noon of the month, and the center of gravity in the second trading stage rose slightly earlier
.
The transaction price in Shanghai is between 14020-14030 yuan / ton, and the premium of the month is around 310-330 yuan / ton, the transaction price is only about 10 yuan / ton lower than the previous day, the transaction price in Wuxi is between 14020-14030 yuan / ton, and the transaction price in Hangzhou is between
14040-14060 yuan / ton.
The intraday aluminum price fell slightly, while the premium expanded to more than 300 yuan / ton, the market supply was more sufficient, the transaction between traders was active, and the number of shipments increased
significantly compared with the previous day.
The willingness to receive goods downstream is acceptable, and due to the tax reduction interest rate difference and the upcoming weekend inventory, the enthusiasm for intraday procurement has not decreased
significantly.
In terms of inventories, LME aluminum stocks were 1,166,100 tons on March 21, down 6,000 tons from the previous session; As of March 15, 2019, electrolytic aluminum stocks on the Shanghai Futures Exchange were 739,058 tons, down 507 tons
from the previous week.
From a seasonal perspective, current inventories remain at a high level
compared to the past five years.
Shanghai aluminum weakened during the day, due to the rebound of the US dollar index, base metals were generally frustrated, and aluminum prices were under pressure to pullback
.
In the spot market, the market supply is relatively sufficient, the transaction between traders is active, and the number of intraday shipments has increased
significantly compared with the previous day.
The willingness to receive goods downstream is acceptable, and due to the tax reduction interest rate difference and the upcoming weekend inventory, the enthusiasm for intraday procurement has not decreased
significantly.
On the technical side, the KDJ indicator of the Shanghai aluminum 1905 contract has a high pullback, and the resistance near the previous high is obvious, and short-term recommendations are volatile
.
